Needham Initiates a Hold Rating on Ping Identity Holding (PING)

Needham analyst Mike Cikos initiated coverage with a Hold rating on Ping Identity Holding (PINGResearch Report) today. The company’s shares closed last Tuesday at $22.20, close to its 52-week low of $19.97.

According to TipRanks.com, Cikos is a 4-star analyst with an average return of 75.4% and a 75.0% success rate. Cikos covers the Technology sector, focusing on stocks such as Cognyte Software, Tenable Holdings, and SecureWorks.

Ping Identity Holding has an analyst consensus of Moderate Buy, with a price target consensus of $30.94, representing a 36.1% upside. In a report issued on July 16, Mizuho Securities also maintained a Hold rating on the stock with a $29.00 price target.

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The company has a one-year high of $37.80 and a one-year low of $19.97. Currently, Ping Identity Holding has an average volume of 834.6K.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PING in relation to earlier this year.

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Ping Identity Holding Corp. engages in pioneering intelligent identity. It enables secure access to service, application or application programming interface from device. The company operates a platform that can leverage artificial intelligence and machine learning to analyse device, network, application and user behaviour data to make real-time authentication and security control decisions. The company was founded in 2003 and is headquartered in Denver, CO.